It’s been a good third quarter for Gold’s Gym. The global franchise celebrated nine international openings, renewed master franchise agreements for Saudi Arabia and United Arab Emirates, and signed a new master franchise agreement to enter Turkey. In addition, Gold’s Gym celebrated one domestic grand opening and signed franchise agreements for multiple locations across three states in the U.S.
Highlights of Gold’s Gym’s Q3 performance in 2018 include new domestic franchise agreements, three-unit development agreement in West Texas (Midland/Odessa), conversion of original Gold’s Gym Loveland, Colorado, location from a competitor gym, and the development of a location across the street from the world-famous Daytona Speedway in Daytona Beach, Florida.
New international agreements of note included one master franchise agreement to enter Turkey with a 25-unit development plan, the renewal of Saudi Arabia’s master franchise agreement, with commitments to add an additional 50 locations in the next 20 years and the renewal of United Arab Emirates’ master franchise agreement, with commitments to add an additional 10 units in 10 years, including a new location in Bahrain. The company has also opened four gyms in India, two in Japan, two in Saudi Arabia and one in Trinidad and Tobago.
“Gold’s Gym continues to distinguish itself as the fitness industry leader, which is exemplified by our biggest quarter of worldwide growth in company history,” said Ken Phipps, director of global franchising development for Gold’s Gym. “Our franchise network continues to expand and thrive as we extend our proven business model across the globe with the support of additional sophisticated investors. We anticipate further development in the fourth quarter and look forward to our International Summit in Dubai this November.”